{"id":46132,"date":"2026-05-04T21:24:21","date_gmt":"2026-05-04T21:24:21","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/%ec%bd%94%eb%a9%94%eb%a5%b4%ec%b8%a0%eb%b0%a9%ed%81%ac-%ec%9d%91%ec%9a%b0%ec%98%8c-%ea%b0%9c%ec%9e%85-%ec%9d%98%ec%8b%ac%ec%97%90-%ec%97%94%ed%99%94-%ea%b8%89%eb%93%b1\/"},"modified":"2026-05-04T21:24:21","modified_gmt":"2026-05-04T21:24:21","slug":"%ec%bd%94%eb%a9%94%eb%a5%b4%ec%b8%a0%eb%b0%a9%ed%81%ac-%ec%9d%91%ec%9a%b0%ec%98%8c-%ea%b0%9c%ec%9e%85-%ec%9d%98%ec%8b%ac%ec%97%90-%ec%97%94%ed%99%94-%ea%b8%89%eb%93%b1","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%ec%bd%94%eb%a9%94%eb%a5%b4%ec%b8%a0%eb%b0%a9%ed%81%ac-%ec%9d%91%ec%9a%b0%ec%98%8c-%ea%b0%9c%ec%9e%85-%ec%9d%98%ec%8b%ac%ec%97%90-%ec%97%94%ed%99%94-%ea%b8%89%eb%93%b1\/","title":{"rendered":"\ucf54\uba54\ub974\uce20\ubc29\ud06c \uc751\uc6b0\uc60c \u201c\uac1c\uc785 \uc758\uc2ec\uc5d0 \uc5d4\ud654 \uae09\ub4f1\u201d\u2026\uc2dc\uc7a5, BOJ \uc778\ud50c\ub808\uc774\uc158 \ub300\uc751 \uc758\uc9c0\u00b7\uac15\uc138 \uc9c0\uc18d\uc131\uc5d4 \ud68c\uc758"},"content":{"rendered":"

\ud655\uc778\ub418\uc9c0 \uc54a\uc740 \ubcf4\ub3c4\uc640 \ube44\uacf5\uc2dd \uc2e0\ud638\uc5d0 \ub530\ub974\uba74 \uc77c\ubcf8 \uc7ac\ubb34\uc131(\ud658\uc728 \uc815\ucc45\uc744 \ub2f4\ub2f9\ud558\ub294 \uc815\ubd80 \ubd80\ucc98)\uacfc \uc77c\ubcf8\uc740\ud589(BoJ\u00b7\uc77c\ubcf8 \uc911\uc559\uc740\ud589)\uc774 \uae08\uc694\uc77c \uc5d4\ud654 \ubc29\uc5b4\ub97c \uc704\ud574 \uc2dc\uc7a5\uc5d0 \uac1c\uc785(\uc815\ubd80\u00b7\uc911\uc559\uc740\ud589\uc774 \uc678\ud658\uc2dc\uc7a5\uc5d0\uc11c \uc9c1\uc811 \ub2ec\ub7ec\/\uc5d4\uc744 \uc0ac\uace0\ud314\uc544 \ud658\uc728\uc744 \uc6c0\uc9c1\uc774\ub294 \uc870\uce58)\ud55c \uac83\uc73c\ub85c \uc804\ud574\uc84c\ub2e4. \uc2dc\uc7a5\uc758 \uad00\uc2ec\uc740 \uc5d4\ud654 \uac15\uc138\uac00 \uc5bc\ub9c8\ub098 \uc9c0\uc18d\ub420 \uc218 \uc788\ub294\uc9c0\uc5d0 \uc3e0\ub824 \uc788\ub2e4.<\/p>\n

\ud5a5\ud6c4 \uc5d4\ud654 \ud750\ub984\uc740 \uc774\ub780 \uc804\uc7c1\uc758 \uc9c0\uc18d \uae30\uac04\uacfc \uadf8\uc5d0 \ub530\ub978 \uc778\ud50c\ub808\uc774\uc158(\ubb3c\uac00 \uc0c1\uc2b9) \uc6b0\ub824, \uadf8\ub9ac\uace0 \uc77c\ubcf8\uc740\ud589\uc758 \ud1b5\ud654\uc815\ucc45(\uae08\ub9ac \uc870\uc815 \ub4f1)\uc5d0 \ub2ec\ub824 \uc788\ub2e4. \ucd5c\uadfc \uc5d4\ud654 \uc57d\uc138\ub294 \uc77c\ubcf8 \ub2f9\uad6d\uc774 \ubb3c\uac00 \uc0c1\uc2b9\uc5d0 \uac15\ud558\uac8c \ub300\uc751\ud558\uc9c0 \uc54a\uc744 \uac83\uc774\ub77c\ub294 \uc2dc\uc7a5\uc758 \uc758\uad6c\uc2ec\uacfc \ub9de\ubb3c\ub824 \uc654\ub2e4.<\/p>\n

Yen Outlook And Policy Signals<\/h3>\n

\uacf5\uc2dd \uba54\uc2dc\uc9c0\uc5d0 \ub69c\ub837\ud55c \ubcc0\ud654\uac00 \uc5c6\ub2e4\uba74 \uc5d4\ud654\ub294 \uc8fc\uc694 10\uac1c\uad6d(G10) \ud1b5\ud654 \uac00\uc6b4\ub370 \uc57d\uc138\uac00 \uc774\uc5b4\uc9c8 \uc218 \uc788\ub2e4. \uc5d0\ub108\uc9c0 \uc2dc\uc7a5\uc758 \uae34\uc7a5\uc774 \ub2e4\uc2dc \ucee4\uc9c0\uba74 \uc5d4\ud654\uc5d0\ub294 \ucd94\uac00 \ud558\ub77d \uc555\ub825\uc774 \uc7ac\ucc28 \ubc1c\uc0dd\ud560 \uc218 \uc788\ub2e4.<\/p>\n

\uc77c\ubcf8\uc758 \uae08\ub9ac \uc804\ub9dd\uc774 \ub0ae\uc544 \uc77c\ubcf8\uc740\ud589\uc774 \uc2dc\uc7a5 \uc608\uc0c1\uce58\ub97c \u2018\uc6c3\ub3cc\u2019 \uc5ec\uc9c0\uac00 \ud06c\uc9c0 \uc54a\ub2e4\ub294 \uc810\ub3c4 \ubcc0\uc218\ub2e4. \ud638\ub974\ubb34\uc988 \ud574\ud611 \ubd09\uc1c4(\uc6d0\uc720 \uc218\uc1a1\uc758 \ud575\uc2ec \ud574\uc0c1 \ud1b5\ub85c\ub97c \ub9c9\uc544 \uacf5\uae09 \ubd88\uc548\uc744 \ud0a4\uc6b0\ub294 \uc0c1\ud669)\uac00 \ud5a5\ud6c4 \uba87 \ub2ec \ub0b4 \ud574\uc81c\ub418\uba74, \uc2dc\uc7a5\uc740 \ud604\uc7ac \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uacfc \ubbf8 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed\u00b7\uc5f0\uc900)\uc5d0 \ubc18\uc601\ub41c \ub192\uc740 \uae08\ub9ac \uae30\ub300(\ud5a5\ud6c4 \uae08\ub9ac \uc778\uc0c1\u00b7\uc720\uc9c0 \uac00\ub2a5\uc131\uc744 \uac00\uaca9\uc5d0 \ubbf8\ub9ac \ubc18\uc601\ud55c \uac83)\ub97c \ub0ae\ucd9c \uc218 \uc788\ub2e4.<\/p>\n

\ubc18\uba74 \uc2dc\uc7a5\uc740 \uc5f0\ub9d0\uae4c\uc9c0 \uc77c\ubcf8\uc740\ud589\uc758 \uae30\uc900\uae08\ub9ac \uc778\uc0c1 2\ud68c(\uac01\uac01 \uae08\ub9ac\ub97c \uc62c\ub9ac\ub294 \uc870\uce58)\ub97c \ubc18\uc601\ud558\uace0 \uc788\ub2e4. \uae30\uc0ac\uc5d0\uc11c\ub294 \uac78\ud504 \uc9c0\uc5ed(\ud398\ub974\uc2dc\uc544\ub9cc \uc77c\ub300) \uc5ec\uac74\uc774 \uc870\uae30\uc5d0 \uac1c\uc120\ub418\ub354\ub77c\ub3c4 \uc77c\ubcf8\uc740\ud589\uc774 \uc774 2\ucc28\ub840 \uc778\uc0c1\uc744 \ub2e8\ud589\ud560 \uc218 \uc788\ub2e4\uace0 \ubd24\ub2e4.<\/p>\n

\ub610\ud55c 2025\ub144 4\uc6d4 \uc804\ud6c4\ub85c \uc788\uc5c8\ub358 \ub2f9\uad6d\uc758 \u2018\ucd5c\uc885 \uacbd\uace0\u2019(\ud658\uc728\uc5d0 \ub300\ud55c \uac15\ud55c \uba54\uc2dc\uc9c0)\uc640 \uac1c\uc785 \ucd94\uc815 \uc0ac\ub840\ub97c \ub2e4\uc2dc \uac70\ub860\ud588\ub2e4. \ub2f9\uc2dc\uc5d0\ub3c4 \uc5d4\ud654 \uac15\uc138\uac00 \uc9c0\uc18d\ub420\uc9c0\uc5d0 \uc758\ubb38\uc774 \uc788\uc5c8\ub294\ub370, \uc2dc\uc7a5\uc774 \uc77c\ubcf8\uc740\ud589\uc758 \uac15\ud55c \ub300\uc751\uc744 \uc2e0\ub8b0\ud558\uc9c0 \uc54a\uc558\uae30 \ub54c\ubb38\uc774\ub2e4. \ud575\uc2ec\uc740 \ub2e4\ub978 \uc911\uc559\uc740\ud589\uacfc \ube44\uad50\ud574 \uc77c\ubcf8\uc740\ud589\uc774 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \uc801\uadf9 \ub300\uc751\ud560 \uc758\uc9c0\uac00 \uc788\ub294\uc9c0\uc5d0 \ub300\ud55c \ud68c\uc758\ub860\uc774\uc5c8\ub2e4.<\/p>\n

Derivatives Positioning And Volatility<\/h3>\n

\uc774 \ud68c\uc758\ub860\uc740 \uc2dc\uc7a5 \uae30\ub300\ub97c \uba74\ubc00\ud788 \ubcf8 \ud22c\uc790\uc790\uc5d0\uac8c \uac15\ud55c \ub9e4\ub9e4 \uc2e0\ud638\uac00 \ub410\ub2e4. \uc774\ud6c4 \ubbf8\uad6d \uc5f0\uc900\uc740 \uc778\ud50c\ub808\uc774\uc158\uc774 2025\ub144 \uc815\uc810\uc5d0\uc11c \ub454\ud654\ud558\uba74\uc11c \uc815\ucc45\uae08\ub9ac(\uc911\uc559\uc740\ud589\uc758 \uae30\uc900\uc774 \ub418\ub294 \uae08\ub9ac)\ub97c 5.0%\ub85c \uc778\ud558\ud588\ub2e4. \ubc18\uba74 \uc77c\ubcf8\uc740\ud589\uc740 \uc81c\ud55c\uc801 \uc57d\uc18d\uc744 \uc774\ud589\ud588\ub2e4. 2025\ub144 \ub9d0 \ud638\ub974\ubb34\uc988 \ud574\ud611 \ubd09\uc1c4\uac00 \ud574\uc18c\ub418\uba70 \uc5d0\ub108\uc9c0 \uac00\uaca9\uc774 \ud558\ub77d\ud588\uace0, \uc804 \uc138\uacc4 \uc778\ud50c\ub808\uc774\uc158\uc744 \ub04c\uc5b4\uc62c\ub9ac\ub358 \uc555\ub825\uc774 \uc644\ud654\ub410\ub2e4.<\/p>\n

\uc608\uc0c1\ub300\ub85c \uc77c\ubcf8\uc740\ud589\uc740 \uc2dc\uc7a5\uc774 \ubc18\uc601\ud558\ub358 2\ucc28\ub840 \uae08\ub9ac \uc778\uc0c1\uc744 \uc2e4\ud589\ud574 2025\ub144 \ub9d0 \uc815\ucc45\uae08\ub9ac\ub97c 0.6%\ub85c \uc62c\ub838\uace0, \ud604\uc7ac\ub3c4 \uadf8 \uc218\uc900\uc774\ub2e4. \uc774\ud589 \uc5ec\ubd80\uac00 \ud655\uc778\ub41c \uc810\uacfc \uc5f0\uc900\uc758 \ube44\ub458\uae30\ud30c(\ud1b5\ud654 \uc644\ud654\uc5d0 \ub354 \uc6b0\ud638\uc801\uc778) \uc804\ud658\uc774 \uacb9\uce58\uba70 \ub2ec\ub7ec\/\uc5d4 \ud658\uc728\uc740 162\ub97c \uc6c3\ub3cc\ub358 \uace0\uc810\uc5d0\uc11c \uc62c\ud574 \ucd08 145 \uc218\uc900\uae4c\uc9c0 \ud558\ub77d\ud588\ub2e4. \uc774\ub294 \uc77c\ubcf8\uc740\ud589\uc5d0 \ub300\ud55c \ub0ae\uc740 \uae30\ub300\uac00 \uc5f0\uc900\uc5d0 \ub300\ud55c \ub9e4\uc6b0 \ub9e4\ud30c\uc801(\uae34\ucd95\uc5d0 \ub354 \uc6b0\ud638\uc801\uc778) \uc804\ub9dd\ubcf4\ub2e4 \ucda9\uc871\ub418\uae30 \uc26c\uc6e0\uc74c\uc744 \ud655\uc778\ud55c \uc148\uc774\ub2e4.<\/p>\n

\ud604\uc7ac CBOE \ubcc0\ub3d9\uc131\uc9c0\uc218(VIX\u00b7\ubbf8\uad6d \uc8fc\uc2dd\uc2dc\uc7a5\uc758 \uc608\uc0c1 \ubcc0\ub3d9\uc131\uc744 \ub098\ud0c0\ub0b4\ub294 \uc9c0\ud45c\ub85c \u2018\uacf5\ud3ec\uc9c0\uc218\u2019\ub85c \ubd88\ub9bc)\uac00 13 \uc218\uc900\uc758 \ub0ae\uc740 \uad6c\uac04\uc5d0\uc11c \uc6c0\uc9c1\uc774\uba74\uc11c \uc2dc\uc7a5\uc758 \uc548\ub3c4 \uc2ec\ub9ac\uac00 \ub418\uc0b4\uc544\ub098\ub294 \ubaa8\uc2b5\uc774\ub2e4. \uc774\uc5d0 \ub530\ub77c \ud2b8\ub808\uc774\ub354\ub4e4\uc740 \uc77c\ubcf8\uacfc \ub2e4\ub978 G10 \uad6d\uac00 \uac04 \uae08\ub9ac \ucc28(\uae08\ub9ac \uaca9\ucc28\uc5d0\uc11c \ubc1c\uc0dd\ud558\ub294 \uc218\uc775\uc744 \ub178\ub9ac\ub294 \uac70\ub798)\uc5d0 \ub2e4\uc2dc \uc8fc\ubaa9\ud588\uace0, \uc774\ub294 \uc5d4\ud654\uc5d0 \uc644\ub9cc\ud55c \uc57d\uc138 \uc555\ub825\uc73c\ub85c \uc791\uc6a9\ud588\ub2e4. \ub2ec\ub7ec\/\uc5d4\uc740 \ucd5c\uadfc \uba87 \uc8fc \ub3d9\uc548 149 \uc218\uc900\uc73c\ub85c \ub2e4\uc2dc \ubc00\ub824 \uc62c\ub77c\uc654\ub2e4.<\/p>\n

\uc774\ub7f0 \ud658\uacbd\uc5d0\uc11c\ub294 \ud30c\uc0dd\uc0c1\ud488(\uae30\ucd08\uc790\uc0b0 \uac00\uaca9\uc5d0 \uc5f0\ub3d9\ub418\ub294 \uacc4\uc57d) \ud22c\uc790\uc790\ub4e4\uc774 \uc77c\ubcf8\uc740\ud589\uc758 \u2018\uc11c\ud504\ub77c\uc774\uc988\u2019 \uac00\ub2a5\uc131\uc5d0 \ub300\ube44\ud55c \ud3ec\uc9c0\uc158\uc744 \uace0\ub824\ud560 \uc218 \uc788\ub2e4\ub294 \ud574\uc11d\uc774 \ub098\uc628\ub2e4. \ub0b4\uc7ac\ubcc0\ub3d9\uc131(\uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \ud5a5\ud6c4 \ubcc0\ub3d9\uc131 \uae30\ub300)\uc774 \ub0ae\uc544 \ube44\uc6a9 \ubd80\ub2f4\uc774 \uc0c1\ub300\uc801\uc73c\ub85c \uc791\ub2e4\ub294 \uc810\uc744 \uac10\uc548\ud558\uba74, \ud5a5\ud6c4 3~6\uac1c\uc6d4 \ub9cc\uae30\uc758 \uc5d4\ud654 \ucf5c\uc635\uc158(JPY\ub97c \ubbf8\ub9ac \uc815\ud55c \uac00\uaca9\uc5d0 \uc0b4 \uad8c\ub9ac)\uc774\ub098 \ub2ec\ub7ec\/\uc5d4 \ud48b\uc635\uc158(USD\/JPY\ub97c \ubbf8\ub9ac \uc815\ud55c \uac00\uaca9\uc5d0 \ud314 \uad8c\ub9ac)\uc744 \ub9e4\uc218\ud574 \ubc29\ud5a5 \uc804\ud658\uc5d0 \ub300\ube44\ud558\ub294 \uc804\ub7b5\uc774 \ub300\uc548\uc774 \ub420 \uc218 \uc788\ub2e4. \uc2dc\uc7a5\uc774 \ub2e4\uc2dc \uc77c\ubcf8\uc740\ud589\uc758 \ub300\uc751 \uc5ec\ub825\uc744 \uacfc\uc18c\ud3c9\uac00\ud558\uace0 \uc788\uc5b4 2025\ub144\uacfc \uc720\uc0ac\ud55c \uae30\ud68c\uac00 \ub420 \uc218 \uc788\ub2e4\ub294 \uc8fc\uc7a5\uc774\ub2e4.<\/p>\n","protected":false},"excerpt":{"rendered":"

\uc5d4\ud654 \ubc29\uc5b4 \uac1c\uc785\uc124 \uc7ac\uc810\ud654. \ucd94\uc138\ub294 \uc911\ub3d9 \ub9ac\uc2a4\ud06c\u00b7\uc778\ud50c\ub808\u00b7BOJ \uc758\uc9c0\uc5d0 \ub2ec\ub838\ub2e4. \ubcc0\ub3d9\uc131 \ub0ae\uc544 \uc635\uc158 \ubc29\uc5b4\uc804\ub7b5 \ubd80\uc0c1, \uae08\ub9ac\ucc28 \uc7ac\ud655\ub300 \ub550 \uc5d4 \uc57d\uc138 \uc7ac\uac1c \uac00\ub2a5.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-46132","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/46132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=46132"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/46132\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=46132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=46132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=46132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}